By Devika Patel
Knoxville, Tenn., Aug. 14 - Acadian Mining Corp. said it plans to conduct a C$3 million private placement of stock.
The company will sell 6 million common shares at C$0.25 apiece for C$1.5 million. It also will sell 5 million flow-through common shares at C$0.30 apiece for C$1.5 million.
Desjardins Securities Inc. is the broker.
Proceeds will be used to advance the Beaver Dam, Tangier, Goldenville, Forest Hill and Fifteen Mile Stream properties and for zinc prospects and general corporate purposes.
Acadian is a Halifax, N.S.-based mining company, which operates a zinc-lead mine at Gays River, N.S., and is exploring and developing gold, zinc-lead, and barite properties in Atlantic Canada.
| Issuer: | Acadian Mining Corp.
|
| Issue: | Common shares, flow-through common shares
|
| Amount: | C$3 million
|
| Warrants: | No
|
| Broker: | Desjardins Securities Inc.
|
| Pricing date: | Aug. 14
|
| Stock symbol: | Toronto: ADA
|
| Stock price: | C$0.27 at close Aug. 13
|
|
|
| Common shares
|
| Amount: | C$1.5 million
|
| Shares: | 6 million
|
| Price: | C$0.25
|
|
|
| Flow-through common shares
|
| Amount: | C$1.5 million
|
| Shares: | 5 million
|
| Price: | C$0.30
|
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